Morning Market Report July 26

BTC soared close to 40000 USDT in this morning. Pay attention to the continuation of the rising market.

According to the data from Huobi Global, BTC, which may be affected by Amazon’s expected acceptance of Bitcoin payments, continued to rise at the weekends. In this morning, the long sides started to counter back so BTC soared close to 40000 USDT. It is currently moving sideways around 38000 for a short period of time. The trading volume is enlarged significantly. In day level of picture, BTC ushered in three consecutive positives. BTC rose rapidly, hitting a new high in recent one and a half months.

In four-hour level of picture, the K-line basically stays above EMA10 and EMA20, moving around EMA5. All EMAs move upward steeply. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the upper rail, indicating the long sides are dominant. The market is now at “overbought” state and the bandwidth expands, so BTC may fall back slightly in the short term. However, it is still in an upward trend. The trading volume is enlarged significantly. DIF continuously stays above DEA, both of which are positive. The long sides bar is increasing. CCI crosses the 100 line, entering an upward interval. In the afternoon, pay attention to the continuation of the rising market and the breakthrough of 40000 above and the support of 35000 below.

According to the data from Huobi Global, ETH is similar to BTC. ETH continued to rise, reaching the highest 2339.65 USDT. It is currently moving sideways around 2300 for a short period of time. The trading volume is at a relatively high level. In four-hour level of picture, the K-line basically stays above EMA10 and EMA20, moving around EMA5. All EMAs move upward steeply. From the analysis of the Bollinger Bands, the K-line is located between the upper rail and the middle rail, approaching the upper one. Both of them move upward. It is now at “overbought” state and the bandwidth expands slightly. DIF currently stays above DEA, both of which are positive. CCI crosses the 100 line, entering an upward interval. In the afternoon, pay attention to the continuation of the rising market and the breakthrough of 2400 above and the support of 2100 below.

In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures increased slightly. The trading volume increased slightly and the market is relatively active. The basis of futures contracts increased slightly.
The open interest of ETH futures contracts remained stable. The trading volume increased slightly and the market is active. The basis of futures contracts increased slightly.

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Disclaimer

Investing in digital assets carries risks and this article does not constitute operational advice.

Blockchain industry top think tank, affiliated to Huobi Group.@Huobi Global